There are distinct pluses and minuses that small business owners should consider when looking for a loan. New small business owners typically enter the marketplace with high expectations — they want to build sales and increase profits quarter to quarter. More often than not, they hope to add employees and, perhaps, open up additional locations. […]
Facing Off Against a Big Competitor
Running a small business isn’t easy. You probably wouldn’t have it any other way. The ability to survive and thrive is a source of great pride for small business owners. So when a competitor moves in, especially a big one, it can feel like battle lines have been drawn. Sharpen Your Edge Before you do […]
Can Your Company Survive a Disaster?
Fire, floods, hurricanes, earthquakes. When they happen, they can destroy buildings, equipment, and hard-to-replace data, and even injure or kill employees. It can take a business weeks, sometimes months, to resume operations after a disaster. Some businesses never recover. You can’t pin down the time or day when a disaster may strike your business. However, […]
Managing Remote and Hybrid Workers
Whether or not the number of people working from office buildings returns to pre-COVID levels, one thing appears certain: Remote and hybrid work models are here to stay. Business owners and other managers who rely on individuals who are working remotely full- or part-time are refining and elevating their management skills so that they get […]
How to Keep Employees Contributing to the Plan
For many employers, especially smaller ones, introducing a retirement plan is a big undertaking. Despite the numerous administrative and regulatory requirements that an employer retirement plan entails, many employers remain committed to their retirement plans because they want to help their employees begin the journey to retirement readiness. Unfortunately, plan participants can sometimes feel squeezed […]
Tips for Relocating Your Small Business
Is your business thinking of moving to a new location? No need to worry, we got you covered with some tips for the journey! Why are you relocating? It’s important that you first consider why it is necessary to change your location. If you’re certain about the move, you should be able to fully answer […]
Business Owners: Keep That Shield Intact
You face plenty of challenges as a small business owner. Finding ways to protect yourself against lawsuits is a major one. You may be able to add protection by structuring your business as a corporation or limited liability company (LLC). Both these entities may shield the owners’ or members’ personal assets from the company’s debts […]
Mentoring the Next Generation to Take Over the Family Business
Many owners of small businesses would love to see a family member take over their business. If you have children, grandchildren, nieces, or nephews that you think might be interested in running the business in the future, you can help lay the groundwork for that potential transfer of ownership in several ways. Use the following […]
The 5 Most Common Small Business Accounting Mistakes
Small businesses make accounting errors and oversights regularly. Here, we cover five of the most common small business accounting mistakes. Read on to see if you’re making any of these mistakes and how to avoid them in the future. 1. You don’t take bookkeeping as seriously as you should. Recording everything is an excellent rule […]
Take the Pulse of Your Tax Health
Regular financial checkups give you an opportunity to identify where you can improve your overall tax situation. They also help identify areas of concern that may require more detailed attention. In a similar fashion, regularly reviewing your tax situation with a financial professional can identify opportunities to improve your tax picture and can often shed […]